Question

What are some merits and demerits of sole proprietorship ??????​

Answer 1

Answer:

What are the merits and demerits of sole proprietorship?

Easy to start and dissolve:

Motivation to work:

Quick decisions:

Independent control:

Retention of business secrets:

Personal contact:

Flexibility:

Economy:

Answer 2

Explanation:

Sole proprietorships have several advantages over other business entities. They are easy to form,and the owner enjoy sole control of the business profits.However, they also have disadvantages, the biggest of which being that the owner is personally liable for all business losses and liabilities.

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